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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 10, 2010
Page
18
New York stocks closed at fresh 18 month highs as the Dow Jones rose 70.28 points to 10,997.35 and the S&P 500 gained 7.93 to 1,194.37 while the Nasdaq added 17.24 to 2,454.05. The Dow marked its sixth straight weekly gain as signs of economic recovery encouraged investors.
The Association of Flight Attendants-CWA unions representing crews at United Air Lines and US Airways denounce a possible merger as absurd. They urge focus on current labor talks and unresolved contract issues at both carriers amid ongoing negotiations.
Walmart says it has begun a large round of price cuts affecting about 10,000 items in stages. Analysts, including Edward Jones’s Matt Arnold, say the changes resemble Walmart’s usual promotions and may not differ materially from past discounts. Shares dipped to $55.05 as trading continued.
Dow Jones briefly hits 11 000 on a rising market but closes near that level amid worry that trading volume is unusually low. Analysts caution that a rally driven by few participants risks stalling, and many urge confidence in the economy before mainstream money returns.
Cedar Rapids security firm Security Coverage reports 41 percent revenue growth in 2009 driven by new products and services and increased customer base. The firm added 25 employees to reach about 73, expanded partner network 11 percent, and opened a second call center in Westby Wisconsin to support Wisconsin customers and disaster recovery.
Alimentation Couche-Tard of Laval bid $36 per share for Casey's General Stores, a 14 percent premium, prompting a hostile public approach after Casey's rejected the bid as too low. Investors drove Casey's shares up about 24 percent to $39.10 as talk of a deal persisted.
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